Standard 'rules out' Prosser

THE likelihood of Six Continents chairman Sir Ian Prosser taking up the same role at Standard Chartered receded after the bank said that it is still looking for the right person for the job.

Just two months ago, Prosser was the front-runner to succeed Sir Patrick Gillam, who is to retire as chairman in May next year.

Standard said: 'No decision has been made. We are still in the process of finding a successor.'

The move to distance the bank from Prosser follows concern among investors about the performance of leisure group Six Continents - formerly known as Bass - while under his leadership.

Standard Chartered shareholders are understood to have raised their fears with management. The bank is expected soon to unveil a comprehensive reshuffle of its board after Rana Talwar was ousted last November as chief executive and replaced by Mervyn Davies.